- March 08, 2011
- All North Carolina Issuing Offices
- Access Coverage in NC Policies
This Bulletin is a reminder to agents to verify actual and legal access to a property before issuing a policy without exception to matters of access. The ALTA 2006 policy insures against loss or damage sustained by an insured by reason of (4.) No right of access to and from the Land. Therefore, we must limit such coverage by a Schedule B exception.
Areas that are of the most concern are:
Properties that do not abut a publically dedicated road as shown on surveys or recorded plats.
Metes and bounds legal descriptions that do not contain reference to a publically dedicated road.
Rural and/or mountain properties relying on unrecorded easements, licenses or other unofficial access routes.
We require the certifying attorney to provide us with sufficient information to determine if the property has access to a public roadway either directly or by a sufficient easement. If we are not satisfied with the sufficiency of the access, we must take exception for such access in both the owner and lender policies:
Lack of a right of access to and from the land. The insuring provision as to access is hereby deleted.
If you have any questions relating to this or other bulletins, please contact your local underwriting personnel or Stewart Legal Services.
For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.
THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.